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Data released by the American petroleum institute (API) showed that U.S. crude oil inventories fell 5.2 million barrels in the week ended Dec. 15, down from an expected 35.18 million barrels. Refinery inventories fell more than expected, while gasoline inventories rose, but were less than expected. The overall API data is good and good for oil prices. But to increase political accountability and to sacrifice the independence of the central bank is to throw the baby out of the bath. Monetary policy is complex and technical. Handing control to politicians is more prudent than handing over keys to the country's nuclear power plants. The international monetary fund has strongly defended its gloomy forecast of the UK after brexit, saying a warning of a slowdown in growth is imminent. The savings rate in January has fallen to historic lows since last August's cut in bank interest rates. To do this, monetary and fiscal policymakers must work together, including letting the central bank liquidate its budget deficit in extreme circumstances. But central bank independence is an obstacle, not a help, in working with the financial sector. Positive economic profit is sometimes described as excess profit.